Market Updates: German Retail Sales Disappoint Again
As per Destatis release, the provisional data turnover of retail sales disappointed for another month, placing bearish pressure on the...
Arslan Butt•Tuesday, July 2, 2019•1 min read
As per Destatis release, the provisional data turnover of retail sales disappointed for another month, placing bearish pressure on EUR/USD.
Back in May 2019, real term retail sales stood at 4.00% vs., 4.8% retail sales in May 2018. In fact, the number of days used to calculate retail sale for May 2019 was 25 vs. 24 in May 2018.
Compared with the prior year, retail trade in the first five months of 2019 in real terms were 2.8% and nominal terms 3.5%, higher than in the corresponding time of the preceding year.
Overall, the retail sales dipped by -0.6% missing the 0.5% forecast for May 2019. EUR/USD is facing slight weakness, as most of the traders still trade the G20 outcome.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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